Now Reading: Sensex, Nifty hold marginal gains in lacklustre trade
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Sensex, Nifty hold marginal gains in lacklustre trade
Indian equity markets remained rangebound on Monday, with the Sensex rising 105 points to 78,604.86 and the Nifty gaining 38 points to 24,608.70, as positive Asian cues and FPI buying offset elevated…
The Story in Brief
Indian equity markets remained rangebound on Monday, with the Sensex rising 105 points to 78,604.86 and the Nifty gaining 38 points to 24,608.70, as positive Asian cues and FPI buying offset elevated US bond yields and geopolitical risks. Sectoral rotation saw Nifty Realty rise 1.6 per cent, while Nifty PSU Bank fell 0.83 per cent and Nifty Bank declined 0.2 per cent.
Hitachi Energy India surged over 11 per cent after reporting a 123 per cent rise in quarterly profit. Paytm gained 9 per cent to a 52-week high on favourable analyst commentary. Titan Company rose nearly 3 per cent after a 63 per cent jump in Q1 net profit. Power Finance Corporation fell over 8 per cent on concerns over net interest income and growth outlook.
The Indian Opinion
The market's reaction to the NSE's new Closing Auction Session remains muted, but its impact on volatility is worth watching. Investors are torn between optimism from softer US jobs data and caution over crude oil prices near $83 a barrel amid Strait of Hormuz tensions. The real test will come when August FII and DII flow data is released after Monday's close, will foreign buying sustain? PSU bank weakness suggests domestic institutional selling may be picking up. Can Nifty hold 24,600 if crude climbs further?
Sources (3): thehindubusinessline.com, ndtvprofit.com, news.abplive.com
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
